Trading idea for CVS Health Corporation (NYSE)

CVS Health Corporation (NYSE)

#CVS

The trend is upward. The stock is trading between the 365 EMA and the 135 EMA. The downward wave pattern is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates an oversold condition.

Trading Idea:

Enter a long position upon the formation of an upward wave pattern, where wave (A) breaks through the descending channel of the truncated downward pattern.

Stop Loss: 89.50

Target Levels: 92.43; 94.60.